Loan Participations Sold, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loan Participations Sold [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Loan Participations Sold | The following table details our loan participations sold as of December 31, 2024 ($ in thousands):
(1)The book value of underlying collateral assets excludes any applicable CECL reserves. (2)The weighted-average all-in yield and cost are expressed over the relevant floating benchmark rates, which include SOFR and SONIA, as applicable. This non-debt participation sold structure is inherently matched in terms of currency and interest rate. In addition to cash coupon, yield/cost includes the amortization of deferred fees and financing costs. (3)The term is determined based on the maximum maturity of the loan, assuming all extension options are exercised by the borrower. Our loan participations sold are inherently non-recourse and term-matched to the corresponding loan. (4)During the years ended December 31, 2025 and 2024, we recorded $6.9 million and $22.6 million, respectively, of interest expense related to our loan participations sold.
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